Wall Street Self Storage

DAA Northwest purchased for owner/user building on the South Hill of Spokane, WA. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Tristique cras viverra at purus nulla commodo mattis neque. Ullamcorper diam gravida tellus et.

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6-Story fully remodeled in 2021 Self Storage Location in the Heart of downtown Spokane, Washington. 414 Steel Framed Storage units, 2 Large Office spaces, 3 Loading Dock Units, Full Basement for expansion. The target location is ideal to take advantage of the lack of self-storage in the downtown core and 57 Blocks to the south. Each level is well lit with new LED lighting plus a secure loading area and elevator access to each level. Currently managed by Storage Pros, the facility opened in Feb 2022 and has seen a 12.5% monthly increase in occupancy. The current floorplan has 39,174 Sf Rentable SF of Self Storage and 11,448 SF of Office space (9,000 SF can be converted to storage). The average Rental Rate is $1.02/SF. No REIT Competition, this facility is primed to grow and take advantage of the untapped market.

Property Highlights

  • The subject was completed in 2021, Brand New Units
  • (1) of only (2) Self Storage Facilities serving the Downtown Core
  • The location serves Downtown and South Hill Market
  • High Efficient new elevator system installed
  • Well lit, secure access
  • Height of Building Allows for Freeway Exposure/Signage
  • Zero Competition for 57 Blocks to the South
  • Room to expand on 2nd Floor & Basement Approx. 9,000 SF
  • Storage rental demand is high in the Spokane market
  • Capture all of the Downtown Business Storage Market
  • Rent Velocity is averaging 12.5% per month
  • 124 S. Wall Street

    Spokane, WA

  • $Unpriced

    Price

  • 50,614 SF

    Size

  • Self Storage

    Property Type

  • Downtown Central Core

    Zone

  • 0.00%

    Capitalization Rate %

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